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Avid Technology, Inc. Message Board

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  • bearsrule_bullsdrool bearsrule_bullsdrool Feb 21, 2003 12:33 PM Flag

    Those into Tech Analysis


    Where I see support depends on your time frame. I am short term trend trading this one and I see AVID getting some near term support (2 months or less) around the $18.50 price level. If that support is broken on higher than normal volume, then the next level of support is around $16.

    If you look on a weekly chart of AVID on about a 3+ year basis, you will see that this is the time of year where AVID typically takes a tumble. I am playing on that historical phenomena to repeat itself this time around too. Along with the negative indications I am seeing in my TC2000 technicals, combined with the present high P/E, I too feel that it is a little pricey and due for a catch up.

    I mix my FA with TA but depend on the TA for entry and exit points.

5.57-0.01(-0.18%)May 2 3:59 PMEDT